Author: Deal Street Asia Online News

SAIC’s Shang Qi Capital holds first close of new RMB tech fund at $84mThe $113m fund will invest in AI-powered auto chain opportunities.

Shang Qi Capital, a private equity (PE) firm affiliated with Chinese state-owned automaker SAIC Motor Corp, has held the first close of a new technology innovation fund at 598 million yuan ($84.3 million) to invest in AI-powered auto industry chain opportunities. The fund, which has a target of 800 million yuan ($112.8 million), plans to… Continue reading SAIC’s Shang Qi Capital holds first close of new RMB tech fund at $84mThe $113m fund will invest in AI-powered auto chain opportunities.

India accuses Samsung, Xiaomi of colluding with Amazon, FlipkartIndian retailers have repeatedly accused Amazon and Flipkart, and smartphone companies…

Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart’s Flipkart to exclusively launch products on the e-commerce firms’ Indian websites in breach of antitrust laws, according to regulatory reports seen by Reuters. Antitrust investigations conducted by the Competition Commission of India (CCI) have found that Amazon and Flipkart violated local competition laws by… Continue reading India accuses Samsung, Xiaomi of colluding with Amazon, FlipkartIndian retailers have repeatedly accused Amazon and Flipkart, and smartphone companies…

Temasek said to be close to buying stake in Blackstone-owned VFSThe deal may value VFS Global at $7 billion, including debt, per a Bloomberg report.

Temasek is nearing a deal to acquire a 20% stake in Blackstone-owned visa application outsourcing and technology services firm VFS Global, Bloomberg News reported on Saturday, citing people familiar with the matter. The deal may value VFS Global at $7 billion, including debt, the report said, adding that Blackstone will remain the majority shareholder in… Continue reading Temasek said to be close to buying stake in Blackstone-owned VFSThe deal may value VFS Global at $7 billion, including debt, per a Bloomberg report.

Chinese courier delivery firm BingEx files for US IPOSeveral firms are trying to test investor appetite for IPOs following a prolonged downturn

Chinese courier delivery firm BingEx, which brands its services as ‘FlashEx’, has filed to go public in the United States, a regulatory filing showed on Friday. Several high-profile companies are trying to test investor appetite for IPOs following a prolonged downturn due to rising interest rates and geopolitical turmoil. The number of Chinese companies that have… Continue reading Chinese courier delivery firm BingEx files for US IPOSeveral firms are trying to test investor appetite for IPOs following a prolonged downturn

Ares in talks to buy GLP’s operations outside ChinaAres has expanded its regional footprint with buyouts of SSG Capital and Crescent Point Capital.

Investment firm Ares Management Corp is in advanced talks to acquire GLP Capital Partners’ operations outside China, Bloomberg News reported on Friday, citing people familiar with the matter. The deal might include an upfront payment of roughly $3.5 billion and the total value could rise to around $5 billion over time if certain targets are hit, the report said.… Continue reading Ares in talks to buy GLP’s operations outside ChinaAres has expanded its regional footprint with buyouts of SSG Capital and Crescent Point Capital.

Sinar Mas Land’s Living Lab Ventures eyes investments in universities, hospitalsThe move aligns with the company’s plan of building an integrated ecos…

Living Lab Ventures, the corporate venture capital (CVC) of Sinar Mas Land, plans to broaden its investment strategy by targeting more mature companies in the education, research, and healthcare sectors. The move aligns with the company’s aim of building an integrated education and healthcare ecosystem within Sinar Mas Bumi Serpong Damai (BSD) city. Sinar Mas… Continue reading Sinar Mas Land’s Living Lab Ventures eyes investments in universities, hospitalsThe move aligns with the company’s plan of building an integrated ecos…

Blackstone mulls selling stake in visa firm VFS GlobalA potential transaction could value VFS at about $7 billion

Blackstone is considering options including a sale of its majority stake in visa application outsourcing and technology services firm VFS Global after receiving interest from prospective investors, Bloomberg News reported on Thursday. A potential transaction could value VFS at about $7 billion, Bloomberg reported, citing people familiar with the matter. Blackstone declined to comment on the… Continue reading Blackstone mulls selling stake in visa firm VFS GlobalA potential transaction could value VFS at about $7 billion

OpenAI launches new series of AI models with ‘reasoning’ abilitiesThe models are capable of reasoning through complex tasks.

Microsoft-backed OpenAI said on Thursday it was launching its “Strawberry” series of AI models designed to spend more time processing answers to queries to solve hard problems. The models, first reported by Reuters, are capable of reasoning through complex tasks and can solve more challenging problems than previous models in science, coding and math, the AI firm… Continue reading OpenAI launches new series of AI models with ‘reasoning’ abilitiesThe models are capable of reasoning through complex tasks.

SUSI Partners buys 39 MW wind farm in Vietnam from Norway’s ScatecThis acquisition has been routed through SUSI Asia Energy Transition Fund (SAETF).

Swiss specialist investment manager SUSI Partners announced on Friday that it will acquire the operating 39 MW Dam Nai wind farm in Vietnam, along with its associated operating company, from Norway-based renewable energy company Scatec ASA. This acquisition has been routed through SUSI Asia Energy Transition Fund (SAETF) and is expected to boost its expansion… Continue reading SUSI Partners buys 39 MW wind farm in Vietnam from Norway’s ScatecThis acquisition has been routed through SUSI Asia Energy Transition Fund (SAETF).